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Cardano DEX Minswap Suffers a Front-Running Attack

Minswap, Cardano’s first multi-pool decentralised exchange(DEX), has been the victim of a front-running attack. Front-running is the activity of obtaining advanced information on upcoming transactions via different techniques. Traders who commit to it may be able to earn risk-free gains. DEXs must devise novel defences against such assaults.

A Twitter user using the handle @CryptoVincenzio noted earlier today that a malicious actor was reportedly front-running orders and pocketing guaranteed gains. Minswap claimed in a tweet that it has begun looking into suspected front-running on the DEX.

“We are working hard to finalise a remedy to avoid it from occurring again,” the group tweeted. Minswap acknowledged the problem had been resolved in a subsequent statement. Because they can’t keep up with the user, the attacker has begun canceling freshly placed orders.

The Minswap is presently preparing a comprehensive report on the event. It is the most prevalent decentralised financial application on the Cardano blockchain, according to DefiLlama statistics, with a total value locked (TVL) of $28.45 million.